A Roy Morgan survey of 50,000 people has revealed what Australians like and dislike about their health insurance and the results are hard to ignore and should put the big, familiar for-profit funds on notice.

Research shows that smaller is better when it comes to private health insurance and customer satisfaction

Health insurance is really important to most Australians, with over 11 million people holding private cover, and for good reasons as it’s not cheap. On average health insurance costs us between $1,000 and up to over $5,000 a year, so we have the right to expect a lot. But sadly, far too many people are being dudded by their health insurer when it comes to service and value for money.

A recent Roy Morgan survey of 50,000 people put the spotlight on customer satisfaction among the 15 biggest Australian health insurers.

With a headline of “The big four health funds need to lift their customer satisfaction game” you get some indication as to who the main culprits are in the industry.

The big familiar brands that spend the most marketing dollars telling people how good they are – funds like Medibank, Bupa and nib – actually ranked in the bottom half for customer satisfaction, and we’re now seeing a decrease in their customer satisfaction levels year-on-year.

Dissatisfaction in the industry continues to be about basic levels of customer service and customers not feeling like they’re getting value for money.

The report went on to say that:

“With a great deal of negative publicity being given to the rapidly rising cost of private health insurance over recent times, it is not surprising that satisfaction levels have been declining for most funds. It is worth noting that a number of smaller funds have shown that it is possible to improve even in this environment. Our research shows that by far the major reason that fund members either drop out altogether or change funds, is to do with cost.”

The research also showed that 10% of customers are ready to switch providers

Every year hundreds of thousands of Australians switch to a new health fund. People are getting a lot more savvy about their health insurance and taking the time to find policies which suit their lifestyle, needs and budget.

It’s a major decision and can take a lot of effort. However, there is one option which is simpler and faster. It’s also truly unique in the industry…

Members Own are the only not-for-profit compare and buy service in Australia

Members Own refuses to promote sponsored products because it’s critical that customers are only ever given unbiased results to compare. Here’s an example of what someone who used the Members Own service had to say:

“Members Own was a refreshing change from the high pressure sales techniques used by their competitors. Professional knowledge, prompt communication and the best health fund recommendation are what prompted us to change our health fund of over 30 years.”

This is the norm from our members. You can check out all the other reviews right here.

Put simply, it’s the best way to compare and most importantly be guaranteed to find a health fund that ranks above average for customer satisfaction.

You can browse for cover that suits your needs and budget, create a shortlist of policies you want to compare side-by-side, and then choose a policy that’s right for you.

Another thing people often don’t realise is they can qualify for industry specific health funds like Defence Health, Teachers Health, Emergency Services and Transport Health. Some of these funds enjoyed very high customer satisfaction in the Roy Morgan survey.

Every day Members Own is helping people find better value health insurance with funds that remind people that health insurance is actually worth it.

People who use the Members Own comparison service are constantly amazed at the huge range of quality funds that offer highly competitive pricing.

The final fact to leave you with: Members Own outperforms the big familiar for-profit insurers, not just on customer satisfaction, but on the other two things that matter to consumers, better coverage and more benefits.

The Members Own service compare health insurance is completely free and don’t forget about Members Own’s friendly staff who are all health insurance experts. Go online or call 13 10 66.

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